Income earned from winning of prize on lottery tickets shall be chargeable to tax as income from other sources. Flat 30% shall be deducted from income earned from winning lottery tickets.
Further, expenditure incurred for the realisation of income shall not be deducted.
Please mark your satisfactory level...
My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
Please feel free to mark any point. I don't share it with anyone. I use it for doing my internal calculations only. I use these calculations to evaluate the service performance of the relevant virtuoso.
Here is the grade scale:
Anu, Thakurani's bestie